Bangor Savings Bank Trims Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Bangor Savings Bank reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,868 shares of the company’s stock after selling 143 shares during the quarter. Bangor Savings Bank’s holdings in Constellation Brands were worth $2,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. New Millennium Group LLC purchased a new stake in shares of Constellation Brands in the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands in the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands during the second quarter worth about $32,000. YHB Investment Advisors Inc. bought a new position in shares of Constellation Brands in the first quarter worth approximately $35,000. Finally, First Financial Corp IN purchased a new stake in Constellation Brands in the first quarter valued at approximately $35,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Down 1.5 %

Shares of Constellation Brands stock opened at $243.07 on Tuesday. The company’s fifty day simple moving average is $246.53 and its two-hundred day simple moving average is $253.29. The company has a market cap of $44.48 billion, a P/E ratio of 18.11, a PEG ratio of 1.74 and a beta of 1.75. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the firm posted $3.70 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Research analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insiders Place Their Bets

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Friday. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday. Evercore ISI reduced their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday. Finally, Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $292.38.

Constellation Brands Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.